Reagimi i medias ceke per problemet e CEZ-it ne Shqiperi

On Apr 18, 2012

Albanian govt tries to solve CEZ problems, Berisha assures Necas!
The Albanian government is trying to solve the problems that Czech energy company CEZ has with its Albanian acquisitions, Albanian Prime Minister Sali Berisha assured his Czech colleague Petr Necas, Berisha told journalists today after around a one-hour meeting with Necas.
Necas is visiting Albania and CEZ CEO Daniel Benes is a member of the accompanying business delegation.
The Czech side is aware of a number of problems and misunderstandings but believes that they can be removed by negotiations, Necas stressed at the press conference.
“We are interested in success of Czech companies and CEZ´s acquisitions here in Albania. I have been assured today that the Albanian government is also interested in the acquisition to be a success,” Necas said.
The fate of CEZ acquisitions in Albania will be a signal not only for Czech firms but also for the whole of the central European region, Necas noted.
At the beginning of this year, the state regulator increased energy prices in state-dominated energy industry by 91 percent.
The state-run electricity producer, whose prices the regulator increased, has a monopoly on electricity supplies to CEZ Shperndarje.
But the price hike was not reflected in consumer prices, which means that the entire burden of the regulator’s decision is born solely by CEZ. CEZ Shperndarje has been loss-making since January.
CEZ has called on the World Bank to resolve the situation. Or else, it would demand the guarantees for EUR60m (Kc1.5bn) the World Bank had provided for the investment in the Albanian distribution network.
Benes told journalists that the situation should get stabilised in the course of several weeks.
“Colleagues stay here and they will still have technical talks,” he said, adding that they have agreed with Berisha on another meeting where the result of the talks is to be evaluated.
“The solution is a bit complicated. Simply, it can be said that conditions of our business activities should be changed so that we could be reaching justified profits here,” Benes said, adding that the changes should concern in particular regulatory conditions.
“The problems need to be solved quite fast because, also due to the steps of some Albanian authorities – for example the regulatory body – this acquisition of CEZ in Albania has economic problems,” Necas told Czech journalists. He recalled that the World Bank was also interested in a successful solution to the problem.
CEZ agreed with the Albanian government at the turn of February and March to mutually set off their receivables, but no acceptable regulatory conditions have been set yet that would ensure a return on the invested funds.
Berisha stressed today that his government was acting in a transparent way and opting for the most transparent path towards a solution. The government is interested in CEZ´s success in the country but this has to be achieved “in the best interest of Albanian consumers as well as of CEZ in Albania”, he said.
CEZ acquired a 76 percent majority stake in the only distribution company in Albania in a privatization tender in January 2009.
CEZ at that time greed with the Albanian government only after the World Bank had provided the guarantees. The reason behind the guarantees were investors’ concerns about interventions of the local regulator that might jeopardise the entire transaction.
Despite CEZ´s problems, Necas stressed today that both countries saw a big potential for Czech companies in investments into Albania´s energy industry, mining and tourism, for example. Czech companies also have possibilities in the development of railway and tram lines in Albania.
On his visit to Albania today and to Macedonia on Tuesday, Necas is accompanied by Industry and Trade Minister Martin Kuba, Transport Minister Pavel Dobes and a large business delegation.